The 5 Types of People You Need on Your Team When Starting a Business

Which people should you surround yourself with when launching your company? David Meltzer Published 5:00 pm, Thursday, May 3, 2018 Photo: Gary Burchell | Getty Images Image 1of/1 Caption Close Image 1 of 1 Photo: Gary Burchell | Getty Images The 5 Types of People You Need on Your Team When Starting a Business 1 / 1 Back to Gallery When you’re starting a business, what kind of team members do you need to have? I want my team there for the start, operation and end/exit of a business, so for me, it’s important to focus on finding the right fit from the get-go. Related: 4 Things to Do When Your Team Grows Faster Than Your Business The most valuable person to have on a team, when starting a business, is someone with money. You want a person who either has the resources at their disposal to finance the company, or who can secure financing. The No. 1 rule of business is “stay in business,” and running out of money has been the end of many good businesses. You need capital to provide you with time to evolve. Some people spend all of their money before they figure it out. This is why you need someone who can finance your business out of their own pocket, or knows how to raise capital for the business. Everything else will stem from there. Heed my dad’s partnership rules. My dad shared some advice with me when I was looking into getting involved in my first partnership as… [Read full story]